Baker Tilly Roelfs and TPW Group have merged in a move that could potentially make Baker Tilly International one of the top 10 largest international networks in Germany.
TPW’s 250 employees and 20 partners will join Baker Tilly Roelfs’s Hamburg office. And the addition of TPW will bring total annual revenues of €48m ($53.84m) to Baker Tilly Roelfs, according to Baker Tilly International.
The global network is therefore expecting to see the resulting firm’s revenue rise to €135m.
This could make the global network the 10th largest network in the country as according to IAB latest Germany survey HLB International ranked 9th with fee income of €147.5m and Ecovis international ranked 10th with revenues of €128.9m.
The newly merged firm will operate under the Baker Tilly Roelfs name.
The merger echoes a similar agreement last month between Mazars and Moore Stephens International member firm RöverBrönner Susat (RBS) in Germany. The new firm is expected to report around € 110m in revenues in the year to 30 June 2015, which would make them fall short of the top 10 ranking in the networks table, but could put them in 8th position in the single firms table.